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Apple Card’s Privacy Policy Update Allows for More Data Sharing

Apple announced a new privacy policy update for the Apple Card in the hopes of expanding eligibility. The updated policy will allow the company to share additional customer data with its financial partner, Goldman Sachs. This applies to both new applicants for the card who opt-in, as well as current cardholders, though it is possible to opt-out.  

What is in the Privacy Policy Update for the Apple Card?

Apple has decided to relax some components of its privacy policy – particularly the data sharing aspect. Applicants will now have the option to shareven more personal information during the Apple Card application process – namely, their Apple transaction dataThe company will also begin to release more anonymized data regarding current cardholders.  

Doing so will reportedly allow Goldman Sachs to revise its approval standards for this credit card. In particular, the Apple Card issuer plans to use this data in order to: 

  • Reconsider rejected applicants 
  • Expand eligibility for the Apple Card 
  • Consider current cardholders for credit increases 

How Does this New Privacy Policy Affect the Apple Card Application?

Those who have their Apple card application denied will have the option to share additional information with Goldman Sachs. In turn, the issuer will use this data to reconsider the application. This means that rejected applicants get a second chance at approval, particularly those who are long-time Apple customers. To opt-in, applicants must simply look for the “Opt-In” button on the rejected application.  

Should I Be Concerned About My Apple Credit Card Data?

Sharing customer data isn’t exactly out of the ordinary within the credit card industry. In fact, most issuers collect transactional and personal information when reviewing applications for new cards. They don’t typically disclose more than they legally have to about this process, either. However, the Apple Card has always stood out from the pack on this front. 

For one thing, Apple maintains control over the amount and type of information shared with Goldman Sachs. It also stipulates that the bank would not use Apple card data for ad sales, which is a common practice. When it was first launched, this made the Apple Card’s privacy policy one of its most lauded features. 

That hasn’t exactly changed with this updated privacy policy – shared data will remain anonymous and won’t be used for ad sales. However, more data will be made available to Goldman Sachs to make the improvements outlined above. 

Can I Opt-Out?

As evidenced by its response to the coronavirusApple seems to place a lot of value on customer comfort. As such, it’s not much of a surprise that the privacy policy update keeps this additional data sharing optional. 

The Apple Card application process has always given the option to provide additional information upon denial. This will remain optional going forward, though other data will now be included for consideration.  

Similarly, current cardholders can opt-out of having their additional credit card data shared. All they need to do is send an email to dpo@apple.com using “Apple Relationship Data and Apple Card” in the subject line. 

About: Leesa

Leesa is a credit card explorer for BestCards.com. While not spelunking for APRs and hidden fees, she's most likely listening to a podcast or working on a superfluous DIY project.